Cleanspark Expands Bitcoin Mining Operations to Mississippi With $19.8 Million Acquisition

Cleanspark Expands Bitcoin Mining Operations to Mississippi With $19.8 Million Acquisition

The publicly traded bitcoin mining entity Cleanspark has unveiled plans to broaden its operational footprint into Mississippi through the purchase of three fully operational bitcoin mining sites in the area. Alongside these Mississippi locations, the firm also secured a site in Dalton, Georgia, which is in the midst of construction.

Nasdaq Traded Bitcoin Miner Cleanspark Expands Footprint

On Tuesday, Cleanspark (Nasdaq: CLSK) revealed its Mississippi expansion strategy, having completed a purchase agreement for three fully equipped bitcoin mining facilities, shelling out $19.8 million in cash. Cleanspark shared that these Mississippi data centers will contribute approximately 2.4 exahash per second (EH/s) to the firm’s total mining capabilities.

Furthermore, the company has acquired an additional facility in Dalton, Georgia, which is currently under development. This site is anticipated to contribute an additional 0.8 EH/s to Cleanspark’s operations upon activation.

Together with the expansion of its existing Dalton mining campus, the company anticipates achieving a combined capacity of 2.4 EH/s in Dalton once these facilities are fully operational. Cleanspark anticipates that with the forthcoming activation of its Sandersville location, alongside recent expansions and new acquisitions, it aims to surpass 20 EH/s by the first half of 2024.

Zach Bradford, CEO of Cleanspark, expressed enthusiasm about the expansion into Mississippi and the latest acquisition in Dalton, noting, “I’m pleased to announce our expansion into nearby Mississippi and for our newest acquisition in Dalton, which will not only strengthen our ties in this vibrant community but also improve our operating efficiencies as we prepare for the halving.”

Bradford further remarked on the operational growth in Dalton, stating:

Given our existing footprint in Dalton, we expect to nearly triple our hashrate there with minimal increases to our overhead operating costs.

Cleanspark’s strategic expansion follows its agreement with Bitmain to purchase 160,000 S21 Antminer-brand bitcoin miners, positioning it competitively among a multitude of other mining corporations also securing tens of thousands of bitcoin miners from Bitmain, Microbt, and Canaan. Following this announcement, Cleanspark’s CLSK shares experienced a 7.67% rise over the past day, with a 2.33% increase observed over the past five days. Despite these gains, CLSK shares have seen a 21.4% decline over the last 30 days.

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